- How can I make more money?
- Have I made a profit?
- Do I owe any taxes on my profits?
- How can I reduce my taxes?
- How can I measure my success?
- How can I plan to stay in business?
- How can I avoid failure?
This third book in the Micro Business for Teens series, Money and Taxes in a Micro Business, will help you answer all those questions.
[buybox title=”Buying Options” subscribe=”0″ related=”0″ ebook=”0″][buyrow type=”Paperback” retail=”$9.95″ title=”Buy Now” link=”https://www.createspace.com/3547574″][/buyrow][buyrow type=”Ebook” caretheight=”8″ retail=”$4.95″ title=”Buy Now” link=”http://tinyurl.com/avqsl7o”]Clickbank,Amazon Kindle[/buyrow][/buybox]
Table of Contents
Introduction: What’s Different About This Book?
Chapter One: How Successful Are You? Your Income Statement
- Income Statement
- Parts of an Income Statement
- Sample Income Statement
- How to Prepare an Income Statement
- Balance Sheet
- Sample Balance Sheet
- Who Needs a Balance Sheet?
- Other Financial Statements
- Did You Make a Profit?
Chapter Two: Can You Stay in Business? The Cash Flow Worksheet
- A Cash Flow Worksheet
- Sample Cash Flow Worksheet
- How to Use a Cash Flow Worksheet
- What to Do If Cash Flow Is Negative
- Learn From Your Mistakes
Chapter Three: Making More Profit
- How To Make More Money
- Increase Sales
- Decrease Expenses
Chapter Four: Measuring Success: Financial Ratios
- Ratios from an Income Statement
- Example of Using Financial Ratios
- How Ratios Help Your Micro Business
- Goal Setting with Ratios
Chapter Five: Federal Taxes
- Federal Income Tax for Business Owners
- When Does a Teenager Owe Income Tax?
- When Does a Teenager File a Tax Return?
- Self Employment Tax
- Legitimate and Legal Tax Deductions
Chapter Six: Who Are You? IRS Classifications of Teenage Workers
- Employee or Independent Contractor?
- Household Employee
- Independent Contractor Status
- Worker Misclassification
Chapter Seven: More Taxes: State and Employer Taxes
- State and Local Income Tax
- Employer Taxes
- Checklist For Hiring Employees
- Social Security and Medicare Taxes
- Unemployment Taxes
- Workers’ Compensation
- Employer Forms
Chapter Eight: Sales Tax
- How sales tax works
- State Requirements
- Consult with a Local CPA
- Obtain a Vendor’s License
- Out of State Sales
- Internet Based Sales
- Paying the Sales Tax
Chapter Nine: Hiring Help: Employees and Independent Contractors
- Alternatives to Hiring Employees
- Two Categories of Workers
- Worker Classification: A Critical Issue
- How to Determine Worker Status
- Can’t Decide? Let the IRS Help
- Forms for Independent Contractors
Chapter Ten: Working With an Accountant
- What a CPA Can Do For You?
- How Much Do CPAs Charge?
- Questions to Ask an Accountant
- CPAs Speak IRS-ese
About the Author
“Phew. Daunting topic and a scary book to tackle. But I’m so glad I did. None of my college business classes covered taxes, and my dad (who’s an accountant) has made it quite clear that he is uninterested in helping another person (me) with their taxes. Yikes! I don’t have it all figured out yet, but this book was soooo helpful! Now I know the basics on how to keep records, file tax returns, calculate deductibles, and a lot more. And I also know where to find the rest of the state-specific information I need. I’d recommend this to any small business owner, freelance writer, or odd-job doing, even if your not a teen.” Leah Good’s review on Goodreads.com
“My two oldest kids and I have read through your micro business books and began an Entrepreneurs Club with we three as members. We are meeting weekly to talk about the progress we make, what we plan on doing the next week, and help each other as needed. Thanks for writing such a realistic and clear guide for kids wanting a business” -Parent of teenagers
How will this work?
If you buy the paperback version…..Click the Buy paperback button and you will be taken to my secure store at CreateSpace (a division of Amazon.com) who will process your order and mail your book. It will look like this:
If you buy the ebook version…Click on Buy ebook and you’ll be taken to my shopping cart program, Clickbank.com. It looks like this:
1. You enter your credit card number, email and name.
2. You will be directed to another website page, my download page. On that page you will be able to download your ebook immediately by clicking a link. The ebook will open as a pdf file. You will need Adobe Reader to view and print it. Get Adobe Reader for free here.
3. Save the document on your computer (maybe you could create a folder called Micro Business, you will want to refer back to it again and again!
4. You can read the ebook on your computer screen or print it out.
P.S. My book, Money and Taxes in a Micro Business, will help stay successful in running your micro business. Don’t waste time and money starting a business that fails. Learn what you need to be successful. Order your book today and get started!